E22.15 (LO 4), AP Deitz Corp is projecting a cash balance of $30,000 in its 12/31/24 2024, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2025 shows total collections of $185,000. The schedule of expected payments for direct materials for the first quarter of 2025 shows total payments of $43,000. Other information gathered for the first quarter of 2025 is sale of equipment $3,000, direct labor $70,000, manufacturing overhead $35,000, selling and administrative expenses $45,000, and purchase of securities $14,000. Deitz wants to maintain a balance of at least $25,000 cash at the end of each quarter. Instructions - Prepare a cash budget for the first quarter.

E22.15 ( LO4 ), AP Deitz Corp is projecting a cash balance of $30,000 in its 12/31/242024, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2025 shows total collections of $185,000. The schedule of expected payments for direct materials for the first quarter of 2025 shows total payments of $43,000. Other information gathered for the first quarter of 2025 is sale of equipment $3,000, direct labor $70,000, manufacturing overhead $35,000, selling and administrative expenses $45,000, and purchase of securities $14,000. Deitz wants to maintain a balance of at least $25,000 cash at the end of each quarter. Instructions - Prepare a cash budget for the first quarter